As a startup, you have a unique opportunity not only to influence the market but also to drive change towards a more sustainable future. By making sustainability a central part of your company’s identity, you can contribute not only to addressing global challenges but also to building strong relationships with customers and other stakeholders.
In this article, you get five tips and steps to take to create a sustainable business model.
What initial steps can startups take to create a more sustainable business model and a competitive company?
Five steps to create a sustainable business model:
Craft a Sustainable Vision:
Startups often communicate their impact through their vision. The vision in your company should serve as a compass in decision-making. It gives meaning to your work and describes how you want to position yourselves and the change you want to see and contribute to.
Identify Your Company’s Impact:
Begin by examining the global goals in the UN’s Agenda 2030, considering which goals your company contributes to. Analyze how these goals affect you and how you, both positively and negatively, influence them. This provides crucial knowledge for discussions with customers, suppliers, and investors.
Focus on What Matters to Your Customers and Stakeholders, Where You Can Make a Difference:
Understand what your customers and stakeholders value. Based on your analysis, link your sustainability goals to areas important to your customers, where you can genuinely make a difference. Adapt to industry expectations and customer needs.
Develop a Concrete Action Plan:
Create goals and a plan for how to achieve them. Be specific and identify actual changes your company can contribute to. Identify areas where you excel today and where you can do more. Set SMART goals and break them down into realistic and measurable milestones for long-term success.
View Sustainability as a Business Opportunity:
Consider how your work on sustainability issues can deliver more value and simultaneously be a business opportunity. Have you gained insights that can create direct business value?
If you need support or advice during your sustainability journey, we are here to help. UIC and other business-promoting organizations are available to assist you on your path to a more sustainable and successful business.